Digital Banking

Consumers are flocking to digital banking. Executives must lead a digital-centric strategy that earns loyalty by delivering consistently excellent experiences across flexible and extensible platforms, enhanced by third-party apps and integrated channels.

To offer the right banking products to the right people, HDFC Bank needed to improve how it engaged existing and prospective customers online. Including a small degree of personalization in its marketing campaigns wasn't enough; the bank needed to improve the contextual accuracy of its messages and offers to customers in multiple engagement channels. This report shows digital business leaders how HDFC Bank is addressing this by building a centralized data hub, improving its customer analytics, and driving campaign orchestration and personalization initiatives.

Over the past decade, a wave of new digital banks like Kakao Bank, Monzo, N26, Nubank, Revolut, and Tinkoff have launched, competing to win customers with better digital customer experiences than established banks. These digital banks have embraced mobile to create differentiation, using digital touchpoints to offer simple, convenient, and more personalized customer experiences combined with relevant guidance and advice. Read this report to learn about the leading digital banks, assess their disruptive potential, and understand how to outsmart them. This report was originally published in June 2014; Forrester reviews and updates it periodically for continued relevance and accuracy.

T-Mobile has entered retail banking in the US, launching the T-Mobile MONEY checking account. We opened an account to understand how T-Mobile helps customers through the purchase journey. This report contains a video review of T-Mobile MONEY's account opening process and discusses what digital business strategy and customer experience executives can learn from it.

How well do leading banks earn loyalty with the quality of their customer experience (CX)? This year, we reveal the complete rankings of eight banks that we analyzed as part of the Australia Customer Experience Index (CX Index™). We also unveil trends in CX quality and the role that emotion plays in CX. Customer experience professionals can use this report to inform their ongoing improvement efforts.

Building great digital banking experiences isn't easy. Some digital banking teams have made preventable mistakes that make digital touchpoints less effective or harder to use than they can be. Forrester has published a series of briefs — each labeled as a "digital feature fix" — about digital banking features to illustrate good practices from leading banks. This brief is a short overview that links to those digital feature fix briefs.